China claims to have more than 1,400 companies that are ‘developing blockchain solutions,’ according to a post in CoinGeek. The information is sourced from the state-owned China Academy for Information and Communications Technology (CAICT).
There may be some definitional nuance here since there are many companies (including banks, etc.) that are working on blockchain solutions that would not be considered a blockchain company—something we might loosely define as a fintech company that specializes in blockchain-based products. Nonetheless, the CAICT whitepaper claims that more than 50% of what they describe as blockchain companies globally are either in China or the U.S.
The piece finalizes some CAICT thoughts around the best uses of blockchain for the benefit of China, including telecommunications, regulations, retail commerce and cross-border payments (mentioned here previously).
We also recently released some member research on the B2B uses for cryptocurrencies, along with a general status on developments across the globe. These include wholesale CBDCs, cross-border trade, capital markets (NFT) and so forth, all of which typically involve distributed ledger technology.
